RK Forge soars after consortium emerges as L-1 bidder for Railways Ministry contract
Ramkrishna Forgings jumped 5.31% to Rs 279.55 after the company's consortium with Titagarh Wagons emerged as the lowest (L-1) bidder for supply of forged wheels to the Ministry of Railways, Government of India.
Shares of Titagarh Wagons advanced 0.87% to currently trade at Rs 243.90 on the BSE.
The consortium has to manufacture and supply around 15,40,000 wheels to the Indian Railways over a period of twenty years.
Ramkrishna Forgings (RK Forge) manufactures forged products. The company is suppliers to various sectors like automotive, railways, farm equipment, bearings, oil & gas, power and construction, earth moving & mining, both in India & overseas markets.
The company's consolidated net profit rose 34.60% to Rs 61.04 crore on a 29.30% increase in sales to Rs 777.48 crore in Q3 FY23 over Q3 FY22.
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First Published: Mar 15 2023 | 9:37 AM IST